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Compensation & Benefits

Central Contracts implements employee shareholding to support succession plans

Adopting an Enterprise Management Incentive (EMI) scheme, the company has made four senior staff members shareholders and directors.

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Central Contracts
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Central Contracts, an independent contract hire and leasing broker trading as LeaseCar.uk, has implemented a succession strategy designed to empower the next generation of leadership and secure the company’s long-term future.

Adopting an Enterprise Management Incentive (EMI) scheme, the company has made four senior staff members shareholders and directors.

The four shareholding directors are Gareth Roberts, Tim Alcock, Bronwyn Powell, and Amie Lloyd.

Powell and Lloyd have been appointed to the company’s board to promote more representation across all business activities and create a clear path for younger staff to advance.

The initiative includes ad hoc dividend payments based on quarterly performance; however, the business’ focus will be on reinvesting funds to ensure continued growth.

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Roberts, strategic director at Central Contracts, said: “On behalf of all of us, we’re delighted to be recognised and appointed as successors.

“Our goal is to continually strengthen the business as we move forward, and a big part of that is building and maintaining strong client relationships, which are essential for long-term success.

“We know the business, we understand our clients’ needs, and the future of Central Contracts is at the forefront of our minds.”

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He added: “These appointments demonstrate our commitment to inclusivity in the workplace. The current senior leaders have already begun to actively step back, encouraging the new shareholding directors to take ownership of business activities.

“It’s a process, and succession won’t happen overnight, but it’s important that we can demonstrate management continuity.

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“Senior members have done a great job of securing Central Contracts’ current position, but now it’s time for the next generation to take the reins and keep us moving into the next era of leasing and hire.”

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In addition to the leadership transition, Central Contracts has partnered with Fresh Egg for digital platform development and secured a 12-month contract with an AI and telephony company.

The AI solutions are expected to improve sales efficiency by automating routine tasks and enhancing customer engagement.

Roberts said: “We believe AI will increase customer retention rates along with providing vital assistance across the pricing and admin department as the business continues to grow.

“It will also help automate our processes, like vehicle taxing to allow our staff to focus on more valuable tasks. As the sector transforms, so do we. This succession plan is also a plan to secure our future.”

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